Mikko Keto, Chief Executive Officer of FLSmidth & Co A/S has informed the Board of Directors of his decision to step down to take on an executive role at a non-competing company. Keto will remain in his position for the coming months to ensure continuity while the Board advances a structured CEO succession process. He is expected to leave the company during the 1H26.
The Board has an established succession plan and will begin the search for Keto’s successor immediately, with an announcement to follow once the process is complete.
Keto joined FLSmidth in 2021 as President of the former Mining business and became CEO in January 2022. During his tenure, he led a multi-year transformation that reshaped the company’s strategic and operational profile. His work on portfolio rationalisation, organisational streamlining and cost discipline has strengthened both commercial performance and financial resilience.
Chair of the Board, Mads Nipper, thanked Keto for his leadership during a period of critical change, noting that FLSmidth is now well positioned for its next phase of profitable growth. Keto expressed pride in the company’s transformation and appreciation for his colleagues. As a consequence of the announcement, the Capital Markets Day planned for 11 March 2026 will be postponed to later in the year.
